Kinder Morgan (KMI) FY2016 results: revenue $13.1 billion, down 9.3% on the year
Kinder Morgan, Inc. (KMI) reported revenue of $13.1 billion for fiscal 2016, the year ended 31 December 2016, down 9.3% on the year before. Net income was $708 million, up 179.8%, and diluted earnings per share $0.25. The figures are the company's own, from the 10-K it filed with the SEC on 10 February 2017.
Revenue
$13.1 billion
-9.3% on the year
FY2009FY2016
Operating margin
27.1%
17.0% a year earlier
FY2009FY2016
Net income
$708 million
+179.8% on the year
FY2009FY2016
Diluted EPS
$0.25
+150.0% on the year
FY2009FY2016
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Revenue
13,058
14,403
16,226
-9.3%
Cost of revenue
3,429
4,059
6,278
-15.5%
Gross profit
9,629
10,344
9,948
-6.9%
Gross margin
73.7%
71.8%
61.3%
Operating income
3,538
2,447
4,448
+44.6%
Operating margin
27.1%
17.0%
27.4%
Interest expense
n/a
n/a
1,807
Pre-tax income
1,638
772
3,091
+112.2%
Income tax
917
564
648
+62.6%
Effective tax rate
56.0%
73.1%
21.0%
Net income
708
253
1,026
+179.8%
Net margin
5.4%
1.8%
6.3%
Diluted EPS
$0.25
$0.10
$0.89
+150.0%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Operating cash flow
4,758
5,303
4,467
-10.3%
Capital expenditure
2,882
3,896
3,617
-26.0%
Free cash flow
1,876
1,407
850
+33.3%
Free cash flow margin
14.4%
9.8%
5.2%
Cash from investing
-1,625
-5,706
-5,210
Cash from financing
-2,637
317
471
Depreciation and amortisation
2,209
2,309
2,040
-4.3%
Share-based compensation
n/a
n/a
0.0
Buybacks
0.0
n/a
94.0
Dividends paid
1,118
4,224
1,760
-73.5%
Dividend per share
$0.50
$1.60
$1.74
-68.8%
Diluted shares, weighted
2,230m
2,193m
1,137m
+1.7%
Shares outstanding at period end
2,230m
2,229m
2,125m
+0.0%
Balance sheet
$ million
FY2016
FY2015
FY2014
On the year
Last 8 years
Shareholders' equity
34,431
35,119
34,076
-2.0%
Non-controlling interest
371
284
350
+30.6%
Debt
40,050
43,406
42,814
-7.7%
Other liabilities
5,453
5,295
5,958
+3.0%
Total liabilities and equity
80,305
84,104
83,198
-4.5%
Fixed assets
38,705
40,547
38,564
-4.5%
Goodwill
22,152
23,790
24,654
-6.9%
Intangible assets
3,318
3,551
2,302
-6.6%
Investments
7,027
6,040
6,036
+16.3%
Cash and equivalents
684
229
315
+198.7%
Receivables
1,370
1,315
1,641
+4.2%
Inventory
357
407
459
-12.3%
Other assets
6,692
8,225
9,227
-18.6%
Total assets
80,305
84,104
83,198
-4.5%
10-K for the year ended 31 December 2016, filed 10 February 2017: the filing.